717 Oak StLakewood, CO 80215

Property Details for 717 Oak St

Year built

1961

Lot size

0.29 AC

Property size (Sq ft)

5,006 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This well-maintained, six-unit apartment building at 717 Oak Street in Lakewood, Colorado, presents a compelling investment opportunity. The property boasts 5,006 square feet on a 0.29-acre lot and features a desirable unit mix, primarily two-bedroom, one-bathroom apartments. Residents enjoy convenient amenities such as on-site laundry facilities and individual storage lockers. Built in 1961, this three-story building offers a strong current NOI of $74,342 and a pro-forma NOI of $79,380, translating to a 5.83% cap rate and a pro-forma cap rate of 6.23%. The asking price is $1,275,000, or $212,500 per unit, and the price per square foot is $254.69. The property's location within an Opportunity Zone, coupled with its proximity to the 6th Avenue highway, provides excellent access to downtown Denver and surrounding areas. Nearby amenities include the Oak Street and Federal Center Light Rail stations, the Belmar Shopping District, and St. Anthony Hospital. The average household income within a two-mile radius is $94,000. This property is situated in Jefferson County, Colorado, with the APN 49-044-18-019 and zip code 80215. The property can be purchased individually or as part of a larger portfolio. The land value per square foot is $100.93.

Location Insight

City

Lakewood

County

Jefferson

State

Colorado

Latitude

39.7283

Longitude

-105.119

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